Statement issued by the LaGrange County Economic Development Corporation:
Howe, IN. July 18, 2011 — The LaGrange County Economic Development Corporation (LCEDC) announced today the award of a grant from the LaGrange County Investment Fund to Therma-Tru Corp.
The company announced last year the commencement of operations in a previously vacant distribution center in the community of Howe, in northern LaGrange County. Therma-Tru Corp. is the nation's leading manufacturer of fiberglass and steel exterior door systems, and is part of the leading consumer brands company Fortune Brands Inc. (NYSE: FO).
Therma-Tru Corp. signed a long-term lease for the 347,000 ft2 facility that fits the company's long term strategic distribution and logistics plan. The Howe facility is fully operational for the distribution of Therma-Tru Corp. branded products, and currently employs approximately 60 individuals.
The company is also installing some light manufacturing equipment and the distribution capacity for the Fypon brand, a business segment of Therma-Tru Corp. This transition will bring with it approximately 40 new jobs, which will bring their total employment at the Howe facility to around 100 employees, an increase over the employment commitments previously announced in 2010. The LCEDC, as part of their ongoing commitment to Therma-Tru Corp., pledged $40,000 to help offset the transition of Therma-Tru Corp. to the county last year from the LaGrange County Investment Fund, the first use of the fund to attract a large private investment to LaGrange County.
"We are extremely happy with the welcome we have received here in LaGrange County" said David Randich, President of Therma-Tru Corp. "The Howe facility is a vital part of our long-term strategy for the growth of Therma-Tru Corp. and we are grateful for the support and investments of the LCEDC towards helping us make the transition to Howe."
The LaGrange County Investment Fund was set up by the LCEDC with assistance from the LaGrange County Commissioner's and LaGrange County Council in late 2009 as a fund to help give LaGrange County a competitive edge for projects that would create jobs, add to the tax base, and have a large positive economic impact on the community. While the investment fund has been used for some smaller grants to help existing businesses grow, such as to offset tax abatement fees, this is the first investment for a large business attraction project. "The LCEDC is thankful to the LaGrange County Commissioners and Council for giving us the ability to provide an investment incentive such as this to our customers to help them bring growth to our community," said Joe Pierce, President of the LCEDC. "Their foresight in helping the LCEDC create this fund continues to pay dividends for our economic development efforts."
"Therma-Tru Corp. has been a great partner to work with," said Keith Gillenwater, Executive Director of the LCEDC. "The LaGrange County Investment Fund board, along with the board of the LCEDC, is happy to support a great company like Therma-Tru Corp. as they continue to make investments in our community. LaGrange County is a perfect location for transportation, distribution, and logistics operations such as Therma-Tru Corp.'s and we look forward to helping them grow long into the future."
About the LaGrange County Economic Development Corporation
The LaGrange County Economic Development Corporation, established in 2009, is a 501(c) 3 corporation designed to assist business development needs. The LCEDC partners with local, regional, state, and federal agencies to attract and develop new businesses and entrepreneurs, as well as expand existing businesses, in LaGrange County and its communities. For more information about the LaGrange County EDC, please visit www.lagrangecountyedc.com or call at 260.499.4994
About Therma-Tru Corporation
Therma-Tru Doors is the nation's leading manufacturer and most preferred brand of fiberglass and steel exterior door systems. Founded in 1962, Therma-Tru pioneered the fiberglass entry door industry, and today offers a complete portfolio of entry and patio door system solutions, including decorative glass doorlites, sidelites and transoms, and door components. Therma-Tru, headquartered in Maumee, Ohio, is part of leading consumer brands company Fortune Brands Inc. (NYSE: FO). For more information on Therma-Tru Doors, visit www.thermatru.com or call (800) 537-8827.